The Securities and Exchange Commission on Thursday approved the Ayala Corp.’s shelf registration of P20 billion worth of fixed-rate bonds.
Documents filed with SEC showed Ayala Corp. would initially issue P10 billion seven-year bonds, while the remaining P10 billion would be placed under shelf registration, ready for issuance within the next three years.
Ayala hired BDO Capital & Investments Corp. as the issue manager for the fund raising activity. Other lead underwriters are BPI Capital Corp., China Bank Capital Corp. and First Metro Investments Corp.
Proceeds will be used to refinance the group’s P10-billion bonds maturing in April 2017.
Ayala Corp., which has major investments in real estate, banking and telecommunications sectors, expects most of its business units to continue growing at a healthy pace in 2016.
The conglomerate said it would continue to strengthen its growing portfolio of power and infrastructure investments.
